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Home > Jurisdictions > Offshore Jurisdictions > Bermuda

  • Full Name: Bermuda (overseas territory of the UK)
  • Geographical Area: consists of about 138 coral islands (20 islands are inhabited) and islets with ample rainfall, but no rivers or freshwater lakes; some land was leased by US Government from 1941 to 1995
  • Terrain and Climate:  consists of about 138 coral islands and islets with ample rainfall, but no rivers or freshwater lakes, subtropical; mild, humid; gales, strong winds common in winter, risk of hurricanes
  • Population: 66,536 (July 2008 est.)
  • Ethnicity:  black 54.8%, white 34.1%, mixed 6.4%, other races 4.3%, unspecified 0.4% (2000 census)
  • Capital: Hamilton
  • Government:  British Crown Colony since 1684. Gained internal autonomy in 1968, parliamentary self-governing territory chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor Sir Richard GOZNEY (since 12 December 2007)
  • Major Languages: English with some Portuguese
  • Major Religion: Anglican 23%, Roman Catholic 15%, African Methodist Episcopal 11%, other Protestant 18%, other 12%, unaffiliated 6%
  • Life Expectancy: 78.3 years
  • Monetary Unit: Bermudian dollar (BMD) Bermuda and U.S. dollars are approximately equivalency (1 $B = 1 $US)
  • Exchange Controls and Taxation:  No income, corporate tax, capital gains or inheritance tax   
  • Stamp Tax:  None
  • Main Exports: No significant export business
  • Compulsory Education:  Compulsory to the age of 16, suffrage 18 years of age
  • GDP: $69,900 (2004)
  • Annual Growth Rate: estimated 4.4%
  • Major Industry:  Tourism
  • Communication:  There are Internet cafes in the Royal Naval Dockyard, City of Hamilton and Town of St George, and connections are provided in most hotels
  • Internet - .bm
  • International dialing code:  1 + 441
  • Bermuda is not known as an OFC – Offshore Financial Center
  • Number of Banks:  Three Private Banks, no major banks
  • Head of State:, Nominal Chief of State – Queen Elizabeth II
  • Press:  • Main newspapers include The Royal Gazette (daily), The Mid-Ocean News (weekly) and The Bermuda Sun (bi-weekly).
  • Radio:  AM 5, FM 3 Bermuda Broadcasting Company (BBC) operates ZBM AM, ZFB AM, ZBM FM 89 and Power 95.
    • VSB operates Mix 106, 1450 Gold, VSB 2 and VSB 3.
  • Television:  3 local stations
  • Time Zone: EST + 1 hour or GMT – 5 (GMT - 4 from first Sunday in April until last Sunday in October).
  • Airport:  1, Bermuda has no national airline as home base, but British Airways flies to Bermuda
  • Bank Lists

·         Bank of Bermuda Limited (HSBC  group)

·         Bank of N. T. Butterfield & Son Limited

·         Bermuda Commercial Bank Ltd

 

Bermuda

  • Full Name: Bermuda (overseas territory of the UK)
  • Geographical Area: consists of about 138 coral islands (20 islands are inhabited) and islets with ample rainfall, but no rivers or freshwater lakes; some land was leased by US Government from 1941 to 1995
  • Terrain and Climate:  consists of about 138 coral islands and islets with ample rainfall, but no rivers or freshwater lakes, subtropical; mild, humid; gales, strong winds common in winter, risk of hurricanes
  • Population: 66,536 (July 2008 est.)
  • Ethnicity:  black 54.8%, white 34.1%, mixed 6.4%, other races 4.3%, unspecified 0.4% (2000 census)
  • Capital: Hamilton
  • Government:  British Crown Colony since 1684. Gained internal autonomy in 1968, parliamentary self-governing territory chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor Sir Richard GOZNEY (since 12 December 2007)
  • Major Languages: English with some Portuguese
  • Major Religion: Anglican 23%, Roman Catholic 15%, African Methodist Episcopal 11%, other Protestant 18%, other 12%, unaffiliated 6%
  • Life Expectancy: 78.3 years
  • Monetary Unit: Bermudian dollar (BMD) Bermuda and U.S. dollars are approximately equivalency (1 $B = 1 $US)
  • Exchange Controls and Taxation:  No income, corporate tax, capital gains or inheritance tax   
  • Stamp Tax:  None
  • Main Exports: No significant export business
  • Compulsory Education:  Compulsory to the age of 16, suffrage 18 years of age
  • GDP: $69,900 (2004)
  • Annual Growth Rate: estimated 4.4%
  • Major Industry:  Tourism
  • Communication:  There are Internet cafes in the Royal Naval Dockyard, City of Hamilton and Town of St George, and connections are provided in most hotels
  • Internet - .bm
  • International dialing code:  1 + 441
  • Bermuda is not known as an OFC – Offshore Financial Center
  • Number of Banks:  Three Private Banks, no major banks
  • Head of State:, Nominal Chief of State – Queen Elizabeth II
  • Press:  • Main newspapers include The Royal Gazette (daily), The Mid-Ocean News (weekly) and The Bermuda Sun (bi-weekly).
  • Radio:  AM 5, FM 3 Bermuda Broadcasting Company (BBC) operates ZBM AM, ZFB AM, ZBM FM 89 and Power 95.
    • VSB operates Mix 106, 1450 Gold, VSB 2 and VSB 3.
  • Television:  3 local stations
  • Time Zone: EST + 1 hour or GMT – 5 (GMT - 4 from first Sunday in April until last Sunday in October).
  • Airport:  1, Bermuda has no national airline as home base, but British Airways flies to Bermuda
  • Bank Lists

·         Bank of Bermuda Limited (HSBC  group)

·         Bank of N. T. Butterfield & Son Limited

·         Bermuda Commercial Bank Ltd

 

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